We are adding two new products to our buy to let range which have no product fee, no application fee, and one free standard valuation, exclusively for portfolio landlords (those who have 4+ properties in the background).
- New ‘No fee’ F1 2-year fixed at 3.24% to 75% LTV
- New ‘No fee’ standard HMO (up to 6 occupants) 2 year fixed at 3.44% to 75% LTV
Both products have low upfront costs:
- No product fee, no application fee, and one free standard valuation
- For both purchase and remortgage
- For individuals and limited companies
- Max loan £750k, min loan of £50k
- No limit to portfolio size, subject to max borrowing of £5m with us
New reduced document requirements
Landlords can take advantage of our new streamlined document requirements when the portfolio is submitted at the outset.
Landlord pre-underwriting facility
Landlord borrowers benefit from a facility to add more properties easily to their portfolio with Foundation Home Loans within six months.
‘Fee-Free’ and ‘No Fee’ in this case means no product fee, no application fee and one free valuation – however please ensure your client is aware that there are always other possible fees that will be incurred as part of a property purchase/remortgage.
Why use Foundation for your next BTL case?
- Individual or limited company
- Limited companies with complex structures
- Up to 4 directors
- Newly incorporated limited companies acceptable
- ICR of 125% for limited company borrowers and basic rate taxpayers and 145% for others
- No minimum term of employment/self-employment and no minimum income
- Up to 80% LTV on core range
- Loans up to £2M on core range
- No limit to portfolio size, subject to max borrowing of £5m with us
- Cater for specialist properties such as HMOs, short term lets and Multi Unit Blocks
- HMOs range: up to 8 bedrooms and MUBs: up to 10 units
- Products for first time landlords
- Ex-pats considered for limited companies only
- Green Mortgages available for purchase and remortgage
